COURSE OVERVIEW:

The ability to proactively identify, analyze, and respond to uncertainty is a defining characteristic of successful project leadership. This course provides a comprehensive framework for Project Risk Management, focusing on the systematic processes required to minimize the impact of negative threats and maximize the potential of positive opportunities. It addresses the strategic integration of risk management into the project lifecycle to ensure that objectives are met despite the volatility of the project environment.

The scope of this training encompasses the creation of the "Risk Management Plan," the utilization of "Qualitative and Quantitative Risk Analysis," and the development of "Risk Response Strategies." Participants will learn how to maintain a dynamic "Risk Register," perform "Sensitivity Analysis," and utilize "Monte Carlo Simulations" to forecast project outcomes. The course provides practical tools for managing "Technical," "Commercial," "External," and "Organizational" risks across diverse industries.

Coverage includes the analysis of "Risk Appetite" and "Tolerance" levels, the implementation of "Contingency and Management Reserves," and the execution of "Risk Audits" and reviews. Attendees will explore the role of "Risk Owners" and learn how to communicate risk status effectively to stakeholders through "Risk Dashboards." By mastering project risk management, professionals will be able to navigate uncertainty with confidence, protect project margins, and enhance the overall predictability of project delivery.

COURSE OBJECTIVES:

After completion of this course, the participants will be able to:

• Design a robust "Project Risk Management Plan."
• Facilitate "Risk Identification" workshops using diverse techniques.
• Maintain and update a comprehensive "Project Risk Register."
• Perform "Qualitative Risk Analysis" using Probability-Impact matrices.
• Conduct "Quantitative Risk Analysis" and "Sensitivity" checks.
• Utilize "Decision Trees" and "Expected Monetary Value" (EMV).
• Develop "Response Strategies" for threats (Avoid, Transfer, Mitigate).
• Develop "Response Strategies" for opportunities (Exploit, Share, Enhance).
• Manage "Contingency" and "Management Reserves" effectively.
• Monitor "Risk Triggers" and implement "Workarounds."
• Communicate "Risk Profiles" and trends to stakeholders.
• Execute "Risk Audits" to evaluate the effectiveness of the process.

TARGET AUDIENCE:

This course is intended for Project Managers, Risk Officers, Project Controllers, Department Heads, and Lead Engineers.

TRAINING COURSE METHODOLOGY:

A highly interactive combination of lectures, discussion sessions, and case studies will be employed to maximize the transfer of information, knowledge, and experience. The course will be intensive, practical, and highly interactive. The sessions will start by raising the most relevant questions and motivating everybody to find the right answers. The attendants will also be encouraged to raise more of their questions and to share in developing the right answers using their analysis and experience. There will also be some indoor experiential activities to enhance the learning experience. Course material will be provided in PowerPoint, with necessary animations, learning videos, and general discussions.

The course participants shall be evaluated before, during, and at the end of the course.

COURSE CERTIFICATE:

National Consultant Centre for Training LLC (NCC) will issue an Attendance Certificate to all participants completing a minimum of 80% of the total attendance time requirement.